“The latest data highlights a job market that is more resilient than is reflected by the mainstream rhetoric.” —Alex Chausovsky, ITR Economics
Here are some additional points made by Chausovksy in a recent ITR blog post:
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We have brought back 9.2 million jobs over the last two months.
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The US Unemployment Rate is down from 14.4% in April to 11.2% as of June.
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It will be critical to watch any state or federal steps made to shut down the economy once again.
What does this mean for decision makers and business leaders? The resiliency of the job market should be encouraging. The US macroeconomy is expected to recover in the second half of 2020 and gain momentum in 2021. Leverage the high levels of unemployment if you’re hiring. There are high-quality skilled workers available today that weren’t six months ago!
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